Aviva life stays cautious on investment sales

EmilyChurch

UK life insurer Aviva
AV., -0.98%
on Tuesday said long-term, worldwide new business sales totaled 14.6 billion pounds, down from 15 billion pounds in 2001. However on an annual premium equivalent, life and pensions sales rose 2 percent 2.373 billion pounds. In its sales update, Aviva said investment sales continue "to be held back by difficult market conditions and investor caution." It added that it expects the difficult conditions to continue this year "and some markets may contract further in the short term. Our geographical spread, broad product range, financial strength and growth from new distribution arrangements will provide some resilience."

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